Cooking gas prices up as import tax increased
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Báo Tuổi Trẻ English
- 12 month(s) ago
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The import duties slapped on cooking gas were yesterday increased from zero to 5 percent, according to the Ministry of Finance’s circular no. 100.
For illustration purposes only Photo: Tuoi Tre
The tax reinstatement was made as global prices have consistently declined recently, the ministry said.
Gas suppliers are likely to hike retail prices by VND11,000-12,000 per 12-kg cylinder following the tax increase, a representative for the Vietnam Gas Association told Tuoi Tre.
Cooking retail prices thus will be around VND351,000 per 12-kg cylinder starting today, June 21.
Earlier this month, the cooking gas retail price in Ho Chi Minh City continued to drop by VND30,000 a 12-kg cylinder compared to the price announced in early May.
Prices have constantly dropped over the last three months, losing a total of VND140,000 a 12-kg cylinder after reaching a record high of VND500,000 per 12-kg cylinder in early March.
In related news, Long An police recently caught two trucks transporting 160 gas cylinders that had been illegally extracted without invoices and safety seals in Duc Hoa District.
Following a subsequent raid on the Huy Khanh gas extraction facility, police found more than 500 empty gas cylinders.
The facility owner failed to show origin certificates for the above cylinders.